Tags: Trump Administration | Trump Tax Reform | US | Medal of Freedom | Laffer

Trump Honors Economist Arthur Laffer With Medal of Freedom

Trump Honors Economist Arthur Laffer With Medal of Freedom
US President Donald Trump presents the Presidential Medal of Freedom to Arthur Laffer at the White House in Washington, DC, on June 19, 2019. - Laffer is known as one of the main architects behind the idea of "supply-side" economics. (Jim Watson/Getty Images)

Wednesday, 19 June 2019 06:05 PM

President Donald Trump has awarded the Presidential Medal of Freedom to economist Arthur Laffer, whose theories on tax cuts have guided Republican policy since the 1980s.

Trump presented the award to Laffer on Wednesday. Laffer had advised Trump during his presidential campaign and co-wrote a flattering book titled “Trumponomics: Inside the America First Plan to Revive Our Economy.”

Laffer says lower tax rates change people’s behavior and stimulate economic growth, creating more tax revenue for the government, not less.

A number of economists disagree and do not believe that cutting taxes spurs growth.

The president credits his $1.5 trillion tax cut package for boosting the economy. But the federal deficit also soared. It’s up nearly 40 percent through the first eight months of the budget year.

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President Donald Trump has awarded the Presidential Medal of Freedom to economist Arthur Laffer, whose theories on tax cuts have guided Republican policy since the 1980s.
US, Medal of Freedom, Laffer
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2019-05-19
Wednesday, 19 June 2019 06:05 PM
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